Cryptocurrency trading platform Coinbase has announced that customers in the UK and Germany can use Ethereum (ETH) and earn rewards.
In addition to this new feature, Coinbase has removed the requirement to maintain a balance of 32 ETH, valued at $121,028 at the time of writing this article, and the experience to use the ETH2 client software.
Staking is handled through Coinbase’s updated Ethereum 2.0 (ETH2) network. According to their website, “[The] update… aims to improve network security and scalability [and] involves Ethereum turning its current mining model into a participatory one.”
Marcus Hughes, CEO of Coinbase European, says the streamlined process will provide holders with a 5% stake in their staked tokens. “
We have seen a huge increase in the number of customers buying Ether in recent months… We believe that by simplifying participation, which is individually very complex, we can play a role in expanding access to this important piece of crypto. the economy can play a role. Users in Germany can earn rewards. “After converting [from ETH] to ETH2, the coins are automatically added to Coinbase’s betting pool, which helps secure the blockchain and generates rewards in return. Coinbase participates on behalf of its customers and makes one of the most important functions of the crypto economy more accessible.”